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Understanding UPS Pension Scheme And Low Uptake Why in the News ? The Unified Pension Scheme (UPS) under the National Pension System (NPS) was introduced for central government employees, offering assured payouts. However, despite the scheme’s benefits, the uptake remains low due to lack of awareness and preference for Old Pension Scheme (OPS). Key Features …
Read MoreGovt Allows One-Time Switch from UPS to NPS Why in the News ? The Union Finance Ministry has introduced a one-time, one-way switch facility from the Unified Pension Scheme (UPS) to the National Pension System (NPS). The facility is available up to one year before retirement or three months before voluntary retirement. Key Highlights of …
Read MoreDEADLINE EXTENDED FOR UNIFIED PENSION SCHEME OPTION Why in the News? Deadline extended: Finance Ministry has extended the option deadline under Unified Pension Scheme (UPS) till September 30, 2025. Stakeholder requests: Extension followed multiple representations seeking more time from various stakeholders. Eligibility: Applies to Central government employees, retirees, and spouses of deceased retirees. Key Features …
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